Top Ten Vehicles Sold With 100,000 Miles

Once you read this, you may not feel the same about that older-model 100,000-mile vehicle sitting in your driveway.  That's because it could be worth more than you think thanks to the current used car market.

Case in point, a new Edmunds.com analysis finds that vehicles with 100,000 to 109,000 miles are worth more than they were a year ago.  The average transaction price at a dealership for vehicles in that mileage group was $16,489 in June 2021, compared to $12,626 last year. That's up 31%, a year-over-year increase is the highest ATP that Edmunds has on record for those vehicles.  

Older-model vehicles are also selling about seven days faster than new vehicles in the current market.  Edmunds data shows that all vehicles sold with 100,000-109,999 miles had an average of 30.5 days to turn in June 2021, compared to 37.7 days in June of last year.

"It's been a long-held belief among many car buyers and sellers that a vehicle's value begins to decline dramatically once it crosses the 100,000-mile mark, but that's proven to be wrong as vehicle technology and durability have greatly improved over the years," said Ivan Drury, Edmunds' senior manager of insights. "The soaring demand we're seeing in the used vehicle market right now only further debunks this myth: We're seeing 7- to 8-year-old vehicles with more than 100,000 miles commanding prices today that are more like the cost of 5-year-old vehicles with 60,000-80,000 miles a year ago."

In its press release, Edmunds says its analysts took a look at the top 10 used vehicles that dealers sold with mileage between 100,000-109,999 miles in June 2021 and identified their average age, transaction price and Days To Turn (DTT).

Here are some of the findings:

• Trucks top list of the greatest year-over-year increase in average transaction prices.
  • The Chevy Silverado 1500 hit an ATP of $26,914 in June 2021, which was a 49% year-over-year increase; the Ford F-150 climbed to $25,924, which was a 43% increase; and the Ram 1500 commanded an ATP of $24,657, which reflected a 42% increase.
• Vehicles that sold faster year over year are a mixed bag.
  • The Jeep Wrangler topped that list with an average DTT of 29.7 days, a 37% year-over-year decrease, followed by the Ram 1500, which had a 28% year-over-year decrease in DTT to 27.4 days. And the Honda Civic came in third with a 25% year-over-year decrease in DTT to 28.3 days.

"Consumers with an old truck sitting in their driveway are in the best position to take advantage of this wild market," said Drury. "Even if you own an SUV or passenger vehicle that's a bit long in the tooth, you shouldn't be too quick to assume its value is dead. Chances are it's worth a bit more — if not a lot more — than you think, which you could use to offset the cost of your next car purchase, or you could simply pocket the extra cash."

Top 10 Used Vehicles Sold With Mileage Between 100,000-109,999 Miles*

Source: Edmunds

Photo Credit: 2015 Chevrolet Silverado 1500 Custom. // Chevrolet.